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changes will be made as soon as practicable, as agreed upon by the parties. The Group Annuity Contract previously issued to Plan Sponsor by Great -West and made available to Participants under the Plan contains a death benefit guarantee. Plan Sponsor has elected to add new Authorized Investment Options consisting of outside mutual funds and other investment options. As a result, Plan Sponsor acknowledges and agrees that the Group Annuity Contract is hereby amended to eliminate the death benefit guarantee. 2. Designated Investment Option Plan Sponsor shall select a Designated Investment Option to receive all Participant contributions, transfers and direct rollovers, and other amounts with respect to a Participant, that are received without complete allocation instructions. Once the Participant provides Great -West with complete allocation instructions in good order, future amounts will be invested pursuant to such instructions. However, funds already deposited into the Designated Investment Option will remain invested therein until transferred by Participant request. D. Valuation of Participant Account Balances Participant account balances within the Plan will be accounted for as follows: 1. Amounts that are not guaranteed as to principal or interest will be accounted for at their fair market value as of the close of each Business Day. 2. Amounts receiving a guaranteed interest rate and a guarantee of principal will be accounted for at book value. Interest will be accounted for on a daily effective method. E. Contributions, Transfers and Limitations Purchases and sales of securities at the direction of Participants will be effected through GWFS Equities, Inc., a broker /dealer affiliate of Great -West. Instructions for the purchase, sale, exchange or transfer of shares on behalf of the Plan shall be transferred to GWFS Equities, Inc. for processing. 1. Contributions Contributions sent directly online to Great - West's recordkeeping system and processed by 12:00 am Mountain Time will be allocated effective the next Business Day, at that Business Day's unit value. Funds must be sent via ACH within the PSC functionality. 2. Transfers Requests for Participant- initiated transfers between Authorized Investment Options will be processed and effective the Business Day they are received by Great -West. Any transfer request not received by Great -West during a Business Day will be processed and effective the next Business Day, or such earlier time as may be required in order to comply with applicable law. 3. Market Timing and Excessive Trading Plan Sponsor acknowledges receipt of, and agrees to adhere to the terms and conditions of, the Procedures for Complying with Fund Company Market Timing and Excessive Trading Policies exhibit, attached to this Agreement. F. Automated Voice Response System Participants will have access to a toll -free, automated voice response system to inquire or make account changes from a touch -tone telephone. Inquiry services available from the automated voice response system will utilize share prices, unit values and account balances that are as of the last calculated unit value /share price. The automated voice response system will be available 24 hours a day, 7 days a week, except for routine maintenance of the system which, when necessary, will generally take place on Sunday between the hours of 12:01 am and 12:01 pm Mountain Time. However, the system may also be limited or unavailable during periods of peak demand, market volatility, systems upgrades, or maintenance, or for other reasons. City of Santa Ana Services Agreement 4 -16 -14 (one -year term) Page 6